Alconix Achieves Mid-term Profit Target in First Year

Japanese trading house of nonferrous metals, Alconix Corporation achieved more than 10% of capital adequacy ratio at the end of September, while the firm targeted above 10% along its 3-year management plan to March 2009. The firm also expects to achieve above 700 million yen of net profit through fiscal 2006 ending March 2007, which is another goal of the mid-term plan. The firm starts review for the mid-term plan and seeks raise of the target values.Alconix carried out its 3-year plan from fiscal 2006 to strengthen the capital base and advance the growth strategy. The firm increased the capital adequacy ratio to 10.3% at the end of September and gained 610 million yen of net profit in first half of fiscal 2006 which increased by 81.5% from 1H of fiscal 2005. The firm estimates 900 billion yen of net profit through fiscal 2006 which expands larger than originally expected.The consolidated affiliate company, Advanced Material Japan Corporation posted favorable sales and profits in 1H. The affiliate gained 12.517 billion yen of non-consolidated net sales, increasing by 92.9% from a year ago, and 4.574 billion yen of recurring profit which increased by 62%. Through fiscal 2006 the net sales would become to 20 billion yen and the recurring profit 6 billion yen when rare metals market seems to peak out and the affiliate’s growth speed might become slower than 1H.

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